Ever wonder what will be your suitable Monthly Amortization based on your Salary? Personally, I also question about it few years ago. In this article, we will show you a very quick and easy formula for you to determine the right and ideal Monthly Amortization you can afford.
The formula is very simple, all you need to do is divide your Gross Salary to 30%
Monthly Amortization = Gross Salary / 30%
For example, if you have Salary of P25,000 per month (Gross) your ideal Monthly Amortization will be at P7,500 per month.
We guarantee, that based on this computation you will no longer be wondering if your application will get denied due to lack of income.
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